I have a 120 year old house in New England. It has an obstacle in that it’s elevated, stairs leading up to house and no driveway.
Listed at $699k and reduced to $675k after a week because I’m under contract on a new property. After a week at that price, I got an offer for $650k and they eventually came up to $670k, which I accepted. They had an inspection and the next day pulled out with no discussions of negotiating. My realtor pried and they said there were tons of issues in inspection report, including knob and tube in basement and a foundation issue.
I had a structural expert come look and said a sill was deteriorated, and gave me a $17k estimate. I had an electrician come and he found mostly dead knob and tube, with one live wire going to a light bulb and switched it out.
The buyer contacts my realtor directly and says she wants the house but her parents who are helping do not. We give them structural assessment and offer $20k credit, and show that electrical issue has been remedied. They then start saying they also want a masonry assessment to see if patio caused sill issue, mold testing, radon testing, full electrical assessment and for me to pay for all testing and recommendations, or reduce price to $620k. My realtor tells them to pound sand.
They said if you let us have a structural engineer come, we’ll come back up to list price with $20k credit. We have engineer come. He says everything is good but sill. The father starts walking around house nitpicking everything from the siding to a pocket door (120 years old) that isn’t opening and closing “smoothly enough.” They come back with $650k offer with $20k credit, and eventually come up to $665k. The daughter finds me on Venmo and sends me $5k with a note “good faith” (I’ve sent back, but I’ve accepted offer ugh).
We make connection that daughter grew up with my nanny. The daughter starts texting me and saying that if her mom finds out she defied her by sending me money (even though I don’t have it) her mom will back out and says she’ll back out up to the day of closing, she doesn’t care.
Given all this, I have my realtor still do open house yesterday to get backup offers. two families love the house. One is definitely submitting a backup offer today, and the other said they likely are too.
Am I stuck in the contract with the people who might still back out?? The p&s is due Tuesday…
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source https://www.reddit.com/r/RealEstate/comments/1wfb78a/stressful_house_sale_can_i_go_with_another_offer/
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